Rane (Madras) Ltd Schedules 22nd AGM; Announces Dividend and Details Director Appointments
Rane (Madras) Limited has scheduled its Twenty Second Annual General Meeting (22nd AGM) to be held on August 05, 2026. The meeting will take place via Video Conference (VC) or Other Audio Visual Means (OAVM), and the company has engaged Central Depository Services (India) Limited for e-voting services.The Annual General Meeting is scheduled to transact several ordinary and special business items, including the adoption of audited financial statements, declaration of dividends, and key appointments in the Board of Directors.
E-Voting and Key Dates
The meeting details and voting periods are as follows:| Event | Date / Period | Details |
|---|---|---|
| AGM Date | August 05, 2026 | Held via Video Conference (VC) / OAVM |
| Cut-off date for eligibility for e-voting | July 29, 2026 | Wednesday |
| E-Voting start date and time | August 02, 2026 at 09:00 hrs IST | |
| E-Voting end date and time | August 04, 2026 at 17:00 hrs IST |
Financial Decisions and Governance Appointments
The AGM agenda includes the consideration and adoption of the Audited Financial Statements for the year ended March 31, 2026, encompassing both the Standalone and Consolidated statements. Furthermore, the meeting is slated to declare a dividend on equity shares. A resolution proposing a dividend of ₹16 per equity share has been proposed, given that the company has 27,637,137 fully paid up equity shares with a face value of ₹10 each.The AGM will also address significant movements in corporate governance:
- Director Re-appointment: The Board is seeking shareholder approval to re-appoint Mr. Ganesh Lakshminarayan (DIN: 00012583), who retires by rotation and offered himself for re-appointment.
- Independent Director Re-appointment: A special resolution is proposed to re-appoint Mr. Ramesh Rajan Natarajan (DIN: 01628318) as an Independent Director for a second term, running from May 21, 2026, up to May 20, 2031.
- New Appointment: The meeting will also consider the appointment of Mr. Ramkumar Lakshminarayanan (DIN: 00090089) as an Independent Director for a first term, effective from July 01, 2026, up to April 08, 2031.
Cost Auditor Remuneration Ratification
A special business item on the agenda involves ratifying the remuneration of the Company's Cost Auditors, M/s Jayaram & Associates (Firm Registration Number: 101077). The proposed remuneration for their services for the financial year ended 2025-26 is ₹4,50,000 per annum excluding applicable taxes, along with reimbursement of travelling and other out-of-pocket expenses.Director Profiles Summary
The company provided detailed information regarding its directors seeking appointments or re-appointments at the AGM. Key details for the three directors are summarized below:| Name of the Director | DIN | Educational Qualifications | Experience Snapshot | Proposed Term |
|---|---|---|---|---|
| Ganesh Lakshminarayan | 00012583 | B.Com., ACA, MBA (Pennsylvania State University) | Over 50 years of industrial experience; previously held roles with various industry forums. | Re-appointment as Director, liable to retire by rotation. |
| Ramesh Rajan Natarajan | 01628318 | B.Com, FCA | Fellow member of ICAI; Founder and Senior Partner of LeapRidge Advisors LLP. | Re-appointment as Independent Director for a second term (May 21, 2026 to May 20, 2031). |
| Ramkumar Lakshminarayanan | 00090089 | B.Com, Cost & Management Accountant, MBA (IIM Ahmedabad) | Over three decades of experience; previously Managing Director at Tube Investments of India Ltd. | Appointment as Independent Director for a first term (July 01, 2026 to April 08, 2031). |
RML Stock Price Movement
Rane (Madras) Limited shares rallied on Friday, successfully breaching previous resistance and settling at ₹1299.60 after gaining 1.17%. The equity marked a significant milestone by hitting its 52-week high and was supported by investor interest as it closed amid strong activity with 40,058 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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